WENDELL HUSSEY | Cadet | CONTACT
The Reserve Bank Of Australia has today provided it’s weekly update on how out of touch it is with ordinary Australians.
Governor Michele Bullock has taken time out of her busy schedule doing whatever it is she does to confirm that “Australian households are doing fine.”
A week after she pointed to people spending money on things like haircuts and dental to prove that inflation is still rising, Bullock has told some finance panel in Hong Kong that Aussies are doing fine and all of the chat about interest rates is just political noise and noise from the general public.
The typically tone deaf comments came in front of a group of corporates in the context of trying to justify why the RBA keeps raising interest rates.
While the RBA can’t actually doing anything else to curb an inflation crisis being driven by factors like corporate profits and international markets, Bullock and Co have committed to continuing to raise interest rates until their magic numbers line up.
Speaking to The Advocate from some 1,000 dollar a night hotel in the corporate hub, Michele Bullock explained her frustrations with the ‘noise around interest rates.’
“I know all the stupid peasants associate interest rate rises with the cost of living crisis, but they need to remember that it’s just a small part of the economy,” explained Bullock.
“Sure, some people reckon their rents have doubled pretty much overnight, but they need to understand that tightening their belts is just part of life,” continued the woman who is on over a million bucks a year.
“Besides, the government has pulled us up on it and refuses to do anything about the cost of living crisis, so I’m not sure why we are copping it for running the ball up.”
“Anyway, I’ve got a dinner with a bunch of other financial people that’s going to cost the better part of a house deposit in a regional area, so I’m off.”
More to come.